2015 Q1 Form 10-Q Financial Statement

#000100075315000044 Filed on May 01, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $699.5M $637.0M
YoY Change 9.81% 4.11%
Cost Of Revenue $569.6M $530.8M
YoY Change 7.31% 5.38%
Gross Profit $129.9M $106.2M
YoY Change 22.31% -1.8%
Gross Profit Margin 18.57% 16.67%
Selling, General & Admin $91.20M $84.40M
YoY Change 8.06% 4.2%
% of Gross Profit 70.23% 79.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $5.260M
YoY Change 0.76% 2.43%
% of Gross Profit 4.08% 4.95%
Operating Expenses $106.3M $89.59M
YoY Change 18.7% 4.04%
Operating Profit $23.52M $16.59M
YoY Change 41.76% -24.62%
Interest Expense $100.0K $47.00K
YoY Change 112.77% -31.88%
% of Operating Profit 0.43% 0.28%
Other Income/Expense, Net $0.00 -$26.00K
YoY Change -100.0% -388.89%
Pretax Income $23.53M $16.61M
YoY Change 41.63% -24.79%
Income Tax $9.740M $7.048M
% Of Pretax Income 41.4% 42.43%
Net Earnings $13.79M $9.564M
YoY Change 44.16% -27.4%
Net Earnings / Revenue 1.97% 1.5%
Basic Earnings Per Share $0.54 $0.37
Diluted Earnings Per Share $0.54 $0.37
COMMON SHARES
Basic Shares Outstanding 24.72M shares 24.82M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.4M $260.4M
YoY Change -1.15% -6.6%
Cash & Equivalents $228.6M $213.5M
Short-Term Investments $28.80M $46.90M
Other Short-Term Assets $21.08M $19.23M
YoY Change 9.63% -76.29%
Inventory
Prepaid Expenses
Receivables $3.740M $2.933M
Other Receivables $3.100M $12.10M
Total Short-Term Assets $633.6M $598.0M
YoY Change 5.95% 6.56%
LONG-TERM ASSETS
Property, Plant & Equipment $59.12M $83.93M
YoY Change -29.57% -8.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.753M $1.812M
YoY Change -3.26% -97.85%
Total Long-Term Assets $207.0M $201.4M
YoY Change 2.82% 0.93%
TOTAL ASSETS
Total Short-Term Assets $633.6M $598.0M
Total Long-Term Assets $207.0M $201.4M
Total Assets $840.6M $799.4M
YoY Change 5.16% 5.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.061M $2.591M
YoY Change 18.14% 17.77%
Accrued Expenses $25.35M $25.69M
YoY Change -1.32% -94.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $531.7M $474.9M
YoY Change 11.97% 6.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $95.80M $71.30M
YoY Change 34.36% 8.52%
Total Long-Term Liabilities $95.78M $77.18M
YoY Change 24.09% 17.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $531.7M $474.9M
Total Long-Term Liabilities $95.78M $77.18M
Total Liabilities $627.5M $552.1M
YoY Change 13.67% 5.9%
SHAREHOLDERS EQUITY
Retained Earnings $223.4M $261.2M
YoY Change -14.46%
Common Stock $141.3M $136.1M
YoY Change 3.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $151.6M $150.0M
YoY Change 1.04%
Treasury Stock Shares
Shareholders Equity $213.1M $247.3M
YoY Change
Total Liabilities & Shareholders Equity $840.6M $799.4M
YoY Change 5.16% 5.09%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $13.79M $9.564M
YoY Change 44.16% -27.4%
Depreciation, Depletion And Amortization $5.300M $5.260M
YoY Change 0.76% 2.43%
Cash From Operating Activities -$37.95M $8.891M
YoY Change -526.84% -49.11%
INVESTING ACTIVITIES
Capital Expenditures $2.423M $2.379M
YoY Change 1.85% -16.32%
Acquisitions
YoY Change
Other Investing Activities -$500.0K -$1.100M
YoY Change -54.55% -96.85%
Cash From Investing Activities -$2.943M -$3.452M
YoY Change -14.75% -90.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.975M -$17.68M
YoY Change -60.54% 5.0%
NET CHANGE
Cash From Operating Activities -$37.95M $8.891M
Cash From Investing Activities -$2.943M -$3.452M
Cash From Financing Activities -$6.975M -$17.68M
Net Change In Cash -$47.87M -$12.24M
YoY Change 291.17% -67.03%
FREE CASH FLOW
Cash From Operating Activities -$37.95M $8.891M
Capital Expenditures $2.423M $2.379M
Free Cash Flow -$40.37M $6.512M
YoY Change -719.98% -55.49%

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CY2015Q1 us-gaap Furniture And Fixtures Gross
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CY2014Q1 us-gaap General And Administrative Expense
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22732000 USD
CY2015Q1 us-gaap General And Administrative Expense
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24055000 USD
CY2014Q1 us-gaap Gross Profit
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106176000 USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
129860000 USD
CY2014Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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0 USD
CY2015Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
9807000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16612000 USD
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23527000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7048000 USD
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9740000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-87000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1613000 USD
CY2014Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12390000 USD
CY2015Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
84662000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
13510000 USD
CY2015Q1 us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
31168000 USD
CY2014Q1 us-gaap Increase Decrease In Health Care Insurance Liabilities
IncreaseDecreaseInHealthCareInsuranceLiabilities
20605000 USD
CY2015Q1 us-gaap Increase Decrease In Health Care Insurance Liabilities
IncreaseDecreaseInHealthCareInsuranceLiabilities
7260000 USD
CY2014Q1 us-gaap Increase Decrease In Income Taxes
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-8872000 USD
CY2015Q1 us-gaap Increase Decrease In Income Taxes
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-3983000 USD
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7175000 USD
CY2015Q1 us-gaap Increase Decrease In Other Current Assets
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3432000 USD
CY2014Q1 us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
-1619000 USD
CY2015Q1 us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
326000 USD
CY2014Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
24155000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2964000 USD
CY2015Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1642000 USD
CY2015Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
15359000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
106340000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
16591000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
23520000 USD
CY2014Q4 us-gaap Other Assets
OtherAssets
142816000 USD
CY2014Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
2837000 USD
CY2015Q1 us-gaap Increase Decrease In Workers Compensation Liabilities
IncreaseDecreaseInWorkersCompensationLiabilities
5360000 USD
CY2014Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
47000 USD
CY2015Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
7000 USD
CY2014Q1 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-510000 USD
CY2015Q1 us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-316000 USD
CY2014Q4 us-gaap Land
Land
5214000 USD
CY2015Q1 us-gaap Land
Land
5214000 USD
CY2015Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
600000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
796670000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
840621000 USD
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496451000 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
531745000 USD
CY2014Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
96123000 USD
CY2015Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
95775000 USD
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LineOfCreditFacilityCurrentBorrowingCapacity
125000000 USD
CY2015Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
150000000 USD
CY2014Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
28631000 USD
CY2015Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
28840000 USD
CY2014Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
14125000 USD
CY2015Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
13882000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17676000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6975000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3452000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2943000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8891000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-37950000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
9564000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
13787000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
89585000 USD
CY2015Q1 us-gaap Other Assets
OtherAssets
147913000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
17649000 USD
CY2015Q1 us-gaap Other Assets Current
OtherAssetsCurrent
21080000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1725000 USD
CY2015Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1753000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
2000 USD
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2014Q4 us-gaap Other Receivables
OtherReceivables
2952000 USD
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
699479000 USD
CY2014Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2400000 USD
CY2015Q1 us-gaap Other Receivables
OtherReceivables
3107000 USD
CY2014Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
282000 USD
CY2015Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
355000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4351000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4844000 USD
CY2014Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
7668000 USD
CY2015Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3964000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2379000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2423000 USD
CY2014Q4 us-gaap Prepaid Insurance
PrepaidInsurance
21301000 USD
CY2015Q1 us-gaap Prepaid Insurance
PrepaidInsurance
36660000 USD
CY2014Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
318000 USD
CY2015Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
285000 USD
CY2014Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
6595000 USD
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
2620000 USD
CY2014Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
163000 USD
CY2015Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
374000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
280686000 USD
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
246217000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
84345000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59115000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
44040000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
45152000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
214481000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
223424000 USD
CY2014Q1 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
3246000 USD
CY2015Q1 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
4304000 USD
CY2014Q1 us-gaap Sales Revenue Net
SalesRevenueNet
636999000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2423000 USD
CY2015Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
113050 shares
CY2015Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
374000 USD
CY2015Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
768765 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
204096000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
213101000 USD
CY2015Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-285000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
4031000 USD
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
280000 USD
CY2015Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
148465000 USD
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
151599000 USD
CY2015Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-5719000 USD
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24823000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24716000 shares
CY2014Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
45592000 USD
CY2015Q1 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
47225000 USD
CY2013Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
120833000 USD
CY2014Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
123448000 USD
CY2014Q4 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
136088000 USD
CY2015Q1 us-gaap Workers Compensation Liability Current And Noncurrent
WorkersCompensationLiabilityCurrentAndNoncurrent
140927000 USD
CY2014Q1 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
71285000 USD
CY2014Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
92048000 USD
CY2015Q1 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
95775000 USD

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